FX MARKET REPORT 20.04.2021

FX MARKET REPORT 20.04.2021

FX MARKET REPORT 20.04.2021

Daily Commentary
FX MARKET REPORT 20.04.2021
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FX MARKET REPORT 20.04.2021

GBP/USD eases from multi-week tops, flat-lined below 1.4000 mark. Sustained USD selling, upbeat UK jobs report pushed GBP/USD to multi-week tops on Tuesday. Rebounding US bond yields extended some support to the USD and capped gains for the major.  The EUR/USD pair extended its advance to 1.2079, a fresh one-month high, retreating afterwards but holding on to substantial weekly gains in the 1.2040 price zone. The dollar index was 0.1% lower at 90.925, having earlier fallen as low as 90.858, the weakest since March 3. USD/JPY was up 0.1% at 108.30, while the risk-sensitive AUD/USD rose 0.6% to 0.7800, hitting a new one-month high as the Reserve Bank of Australia released the minutes from its latest policy meeting earlier in the day. The dollar had already been losing traction as U.S. bond yields have slumped from the 14-month peak touched last month, with the benchmark 10-year Treasury yield trading around 1.60%, reducing the greenback’s yield attraction. This followed repeated assurances from Fed policymakers that near-term price pressures will be transitory, and can be ‘looked through’. Attention will soon turn to Thursday’s meeting of the European Central Bank, although few fireworks are expected.

GBP/USD eases from multi-week tops, flat-lined below 1.4000 mark. Sustained USD selling, upbeat UK jobs report pushed GBP/USD to multi-week tops on Tuesday. Rebounding US bond yields extended some support to the USD and capped gains for the major.  The EUR/USD pair extended its advance to 1.2079, a fresh one-month high, retreating afterwards but holding…

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